ABN AMRO is joining forces with Samsung’s logistics and IT team to start a trial run for a new container logistics program based out the Port of Rotterdam. The pilot aims to deploy blockchain technology to build a platform for improved container transport. Samsung SDS is planning to connect its Nexledger blockchain platform with Corda, ABN AMRO’s respective distributed ledger platform for the trial run.
The project is scheduled to be completed by February and will specifically deal with logistics for shipping containers leaving Asia and entering the Port of Rotterdam. Current issues that plague the shipping and logistics industry are lack of real-time data, slow pen-and-paper processes, and counterfeit goods.
Those involved in the project have high hopes that using blockchain technology will make shipping faster, prevent fraud, and allow for improved document sharing. Samsung launched their private chain in April 2017 and had worked to bring blockchain to financial services ever since. This is their first look into the shipping industry for the South Korean IT company. This pilot will put Nexledger to the test.
What is notable about this project is that it is the first time two competing blockchain platforms are working together. ABN AMRO in their announcement stated:
“What is particularly special about the project is that, for the first time in the rather short history of this technology, different blockchains are operating together. This takes place via an overarching ‘notary’ that connects entirely separate blockchains in Korea and the Netherlands.”
The test run will work to create an active network between all three parties using this notary technology. Shipping and logistics are a collaborative practice in nature, and this will most definitely be a pilot industry giants will be watching. It could set the tone for standard on-chain shipping practices.